HPCL inches up on getting nod for lube modernization and bottoms upgradation project
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Hindustan Petroleum Corporation is currently trading at Rs. 407.15, up by 0.15 points or 0.04% from its previous closing of Rs. 407.00 on the BSE.
The scrip opened at Rs. 408.00 and has touched a high and low of Rs. 409.90 and Rs. 404.70 respectively. So far 212241 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 457.20 on 05-Sep-2024 and a 52 week low of Rs. 239.05 on 21-Dec-2023.
Last one week high and low of the scrip stood at Rs. 419.00 and Rs. 400.35 respectively. The current market cap of the company is Rs. 86655.57 crore.
The promoters holding in the company stood at 54.90%, while Institutions and Non-Institutions held 35.79% and 9.31% respectively.
Hindustan Petroleum Corporation (HPCL) has received approval from board for ‘Lube Modernization and Bottoms Upgradation Project’ at Mumbai Refinery. This project would increase the Lube Oil Base Stocks (LOBS) production from current 475 KTPA to 764 KTPA with production of superior grade Group II+ and Group III LOBS. Additionally, there would be increase in Bitumen production by approximately 487 KTPA with upgradation of Fuel Oil to Bitumen.
The estimated cost of this project is Rs 4679 crore with a Mechanical completion schedule of 36 months and 3 months for commissioning from the date of Board approval. The Board at the meeting held on December 16, 2024 has approved the same.
Hindustan Petroleum Corporation operates two major refineries producing a wide variety of petroleum fuels and Specialties. The Company also owns and operates the largest lube refinery in the country producing lube base oils of international standards.
